VS
BMO Conservative ETF (ZCON) and Purpose Active Conservative Fund (PACF) offer distinct profiles for Canadian ETF investors. A direct comparison shows that ZCON focuses its top 3 sector exposures on Sovereign, Finance, and Municipal, while PACF leans towards Finance, Sovereign, and Industrials. When evaluating costs, ZCON features a management fee (MER) of 0.18%, compared to 0.2% for PACF. Performance-wise, ZCON has returned 5.53% year-to-date with +$35 M in net flows, whereas PACF is at 6.19% with +$14 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
ZCON
PACF
| AuM | $118.15 M | $78.66 M |
| Management Fees | 0.18% | 0.20% |
| Exp. ratio | 0.20% | 0.46% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 2, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | ZCON | -1.16% | -0.41% | +5.53% | +10.05% | +35.17% |
PACF | -0.43% | +1.18% | +6.19% | +9.83% | - | |
| Flows | ZCON | +$7 M | +$17 M | +$35 M | +$47 M | +$64 M |
PACF | +$1 M | +$8 M | +$14 M | +$8 M | - |
ZCON vs PACF exposure
Countries
ZCON
Canada
52.05%
USA
32.65%
Other
15.30%
PACF
Canada
37.67%
USA
23.92%
Other
17.79%
Other
20.62%
Sectors
ZCON
Sovereign
22.43%
Finance
16.59%
Municipal
13.27%
Technology
11.43%
Other
36.28%
PACF
Finance
23.89%
Other
17.79%
Sovereign
11.48%
Other
46.84%
As of September 2, 2026
Top 10 Holdings
ZCON
Canada, Bond 0.5 1oct2030 10Y
7.74%
CMHC, 1.9% 15mar2031, CAD (100)
2.89%
Province of Quebec, 1.5% 1sep2031, CAD (B128)
2.29%
Canada, Bonds 2.25% 1dec2029, CAD
2.18%
Province of Ontario, 2.65% 2dec2050, CAD (DMTN242)
2.15%
Province of Ontario, 2.05% 2jun2030, CAD (DMTN243)
2.14%
Sun Life Financial, 2.06% 1oct2035, CAD (2020-2)
2.09%
Toronto-Dominion Bank, 1.896% 11sep2028, CAD
1.63%
Apple, Inc.
1.39%
NVIDIA Corp.
1.34%
PACF
CA74643B1031
8.03%
CA55454N1042
3.82%
CA74642E3068
3.13%
USA, Bills 0% 17sep2026, USD (182D)
1.16%
Royal Bank of Canada
0.95%
USA, Bills 0% 18mar2027, USD (364D)
0.82%
Bank of Montreal
0.63%
The Bank of Nova Scotia
0.59%
CA74642X1069
0.59%
Canada, Bonds 2.5% 1nov2027, CAD
0.52%
Diversification
ZCON
Total weight of top 10 holdings out of 19,892 total
25.86%
PACF
Total weight of top 10 holdings out of 19,448 total
20.25%
Characteristics
Compare
ZCON
PACF
| Provider | BMO | Purpose Investments |
| Management | Actively managed | Actively managed |
| Benchmark | - | - |
| Replication Method | ||
| Asset Class | Equity, Fixed Income | Equity, Fixed Income |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.91% | 3.39% |
| Meets ESG criteria | No | No |
| Inception Date | February 15, 2019 | October 13, 2023 |
Frequently asked questions about ZCON and PACF
Which ETF has performed better year to date: ZCON or PACF?
As of September 2, 2026, ZCON has returned 5.53% year to date, while PACF has returned 6.19%. PACF is ahead on YTD performance.
Which ETF is larger by assets under management: ZCON or PACF?
As of September 2, 2026, ZCON manages $118.15 M in assets, while PACF manages $78.66 M. ZCON is the larger fund by AUM.
How are ZCON and PACF managed?
ZCON is actively managed by BMO. It does not track an index. PACF is actively managed by Purpose Investments. It does not track an index.
What sectors do ZCON and PACF emphasize?
ZCON is most exposed to Sovereign, Finance, and Municipal. PACF is most exposed to Finance, Sovereign, and Industrials.
Which ETF is attracting more investor flows: ZCON or PACF?
Year to date, ZCON has seen +$35.23 M in net flows, compared with +$14.40 M for PACF. ZCON has attracted more net investor money so far.
How do the fees of ZCON and PACF compare?
ZCON has an expense ratio of 0.20%, while PACF has an expense ratio of 0.46%.
What are the top holdings of ZCON and PACF?
ZCON's largest holdings include Canada, Bond 0.5 1oct2030 10Y and CMHC, 1.9% 15mar2031, CAD (100). PACF's top holdings include USA, Bills 0% 17sep2026, USD (182D) and Royal Bank of Canada.
Which ETF is more diversified: ZCON or PACF?
ZCON holds 11634 securities, while PACF holds 16328. On holdings count, PACF is the more diversified portfolio.
The ETF Market Canada is brought to you by Cboe in partnership with Trackinsight SA who is providing all the data, analysis and editorial content on this site. Unless explicitly stated as such, any information that you receive is not real-time.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.
All content on the ETF Market Canada is for your general information use only, Cboe is not responsible for any use of content by you outside this scope. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by Cboe and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions.